A former Iowa investment broker convicted of orchestrating a $200-million fraud scandal is moving.
During the height of his career defrauding 13,000 Peregrine customers, the commodity broker lived in a 20 acre estate that boasted a swimming pool with a retractable roof. He has less plush surroundings now.
Authorities say Russel Wasendorf Sr. was transferred to a high-security federal prison in Indiana. He had been in the Linn County jail since his arrest in July.
In September Wasendorf pleaded guilty to misspending investor funds over a 20-year period. In January Wasendorf was sentenced to 50 years in federal prison.